High Frequency Identification of Monetary Non-Neutrality: The Information Effect

Monetary
Written By Rowdy Ferret Design

High Frequency Identification of Monetary Non-Neutrality: The Information Effect (with Emi Nakamura)

Quarterly Journal of Economics, 133(3), 1283-1330, August 2018.

Appendix -- Slides -- Replication Files -- Policy News Shocks (original sample period)

Policy News Shocks constructed by Acosta and Saia for an updated sample period may be found here.

Nominal and real rates respond one-for-one to FOMC announcements, while expected inflation responds very little. Expectations of growth rise after surprise monetary tightenings suggesting information effects are important. 

Rowdy Ferret Design

Oakland based web designer and developer.

Loves long walks in the woods and barbeque.

http://rowdyferretdesign.com
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